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Tesla boss Elon Musk has asked an appeals court to overturn a 2018 deal with the Securities and Exchange Commission.
The arrangement means a company lawyer must examine any of his tweets about the company before publishing them.
Musk's latest court battle comes after his victory in a securities fraud trial.
Read More: Elon Musk wins securities fraud lawsuit over 2018 Tesla tweet
A jury in San Francisco ruled he was not accountable for the repercussions of his 2018 Tesla posts.
Tesla investors had sued him, claiming that his Tesla go-private tweet had cost them billions of dollars.
It said he had “funding secured” to take the automaker private for $420 per share and that “investor support” for such a deal was “confirmed.”
Musk had previously settled with the SEC over the tweets in 2018 and finally made a revised settlement deal.
The settlement required a legal and regulatory compliance point person at Tesla, dubbed “Twitter sitter.”
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The "Twitter sitter" has to pre-approve any of Musk’s tweets having any details about the public company that could impact its stock price.
In light of the jury's recent judgement, Musk's attorney, Alex Spiro, wrote in a letter to the court that the SEC lacked support for its revised settlement deal.
He said: “The jury’s verdict provides further reason why the public interest in avoiding unconstitutional settlements easily subsumes the SEC’s purported stake in the consent decree.”
Musk and the SEC did not immediately respond to requests for comment.
Shareholders' attorneys who sued Musk and Tesla over the take-private tweets still have time to submit an appeal.
Source: CNBC
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